Glossary
A glossary of shipping related terms.
To comment or to add new terms please email glossary@balticexchange.com
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MARPOL - convention for prevention of pollution from ships
MDO - marine diesel oil
MGO - marine gas oil
MIDSHIP - approximately equidistant from bow and stern of ship
MIN/MAX - minimum/maximum (usually cargo quantity or time charter period)
MOA - memorandum of agreement
MOLCHOPT - more or less in charterers option
MOLOO - more or less in owners option
MOP - Muriate of Potash
MT - metric ton (tonne) 1000 kilos
MV - motor vessel
NAABSA - not always afloat but safely aground
NCB - national cargo bureau
NK - Nippon Kaiji Kyokai (Japanese classification Society/standard)
NON REVERSIBLE - refers to laytime – the time allowed for loading respectively discharging cannot be computed together
NOR - notice of readiness
NRT - net registered tonnage
NYPE - new york produce exchange
OO - owners option
OBO - ore/bulk/oil (vessel)
OWS - owners
P&I - protection & indemnity (insurance)
PDPR - per day or pro rata
PHPD - per hatch per day
PICO - port in charterer’s option
PUS - past us
PWH - per workable hatch
PWHPD - per workable hatch per day
PWWD - per weather working day
